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Former Rocket Mortgage executive is promoted to the CEO role of firm specializing in enterprise quality control, audit, and risk management needs.

As homebuyers nationwide face inflationary home prices, those who purchased a home relocated at an unprecedented rate in Q4, as elevated mortgage rates and economic uncertainty drove many homebuyers to more affordable areas.

Housing market potential increased in November-December 2022 but remains lower than it was in December 2021.

A new Veterans United Home Loans survey revealed that high home prices are among the top reasons that impact the decision to buy a new home among service members and Veterans. However, many remain optimistic about homebuying in 2023 despite ongoing affordability challenges.

"In our view, the balance still suggests a modest recession, particularly if the Federal Reserve maintains its focus on labor market tightness,” said Doug Duncan, SVP and Chief Economist for Fannie Mae.

Bank of America has announced collaborations with Enterprise Community Partners and developers to preserve housing for middle-income earners, helping preserve more than 3,000 affordable homes nationwide.

The share of homes that sold above their list price also fell to levels last seen in June 2020.

As mortgage volume continues to decline, Sales Boomerang’s latest Q4 2022 Mortgage Market Opportunities Report highlights areas of opportunity still available for loan originators.

“Home prices nationwide are still positive, though mildly,” said NAR Chief Economist Lawrence Yun. “Markets in roughly half of the country are likely to offer potential buyers discounted prices compared to last year.”

For the second consecutive week, mortgage rates have dipped, providing a much-needed boost to the housing marketplace and sparking a rise in overall mortgage app volume.